Lebanon, Missouri Property Taxes
The median property tax rate in Lebanon, MO is 0.81%, which is lower than both the national median of 0.99% and the Missouri state median of 1.20%. With a median home value of $71,026 in Lebanon, the typical annual property tax bill amounts to $577, significantly less than the national median of $2,690. Property taxes in Lebanon are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lebanon's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lebanon or another part of Camden County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lebanon, Missouri Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,400
Ownwell’s Lebanon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lebanon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lebanon to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lebanon, Missouri
Property taxes in Lebanon, Missouri, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lebanon is 0.81%, which is lower than both the Missouri state median and the U.S. national median of 0.99%. Local government entities within Lebanon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lebanon estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lebanon's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65536 has both the highest and lowest median property tax rate of 0.81%. Understanding how these areas compare with Lebanon provides valuable insights into the varying tax landscape across Camden County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lebanon Tax Rate
0.81%
Average Camden County Tax Rate
0.84%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lebanon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65536 | 0.81% | 0.81% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Lebanon, Missouri
In Lebanon, Missouri, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Camden County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Lebanon, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lebanon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $577 in zip code 65536, while the lowest is also $577 in the same zip code.
Average Lebanon Assessed Value
$71,026
Average Camden County Assessed Value
$77,579
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lebanon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65536 | $2,595 | $9,131 | $71,026 | $118,487 | $165,879 |
Source: Ownwell
Property Tax Bills Across Lebanon, Missouri
In Lebanon, MO, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The median home price in Lebanon is $71,026. Property taxes are calculated by applying the local tax rate to the assessed value of the property. Several factors influence the tax bill, including the property's market value, any applicable exemptions, and the local tax rate set by various taxing authorities. The tax bill for homeowners in Lebanon can vary significantly. For example, the tax bill at the 25th percentile is $74, while at the 75th percentile, it rises to $963. For those at the 90th percentile, the tax bill can reach as high as $1,348. The median tax bill in the area is $577, which is considerably lower than the national median property tax rate of 0.99%. These variations in tax bills can significantly impact homeowners, influencing their overall housing costs and affordability.
Average Lebanon Tax Bill
$577
Average Camden County Tax Bill
$645
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Lebanon, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65536 | $21 | $74 | $577 | $963 | $1,348 |
Source: Ownwell